World Bank president Robert B. Zoellick has announced the appointment of Indonesian Finance Minister Sri Mulyani Indrawati as managing director of the World Bank Group.
“She has been an outstanding finance minister, with in-depth knowledge of both development issues and the role of the World Bank Group,” Zoellick stated in a press release.
“As a member of the senior team she will play a key role in helping to lead the bank as we move to strengthen client support, implement our reform program, and anticipate future challenges,” he said
Sri Mulyani will start June 1 as one of the Washington-based bank’s three managing directors, the highest rank under Zoellick.
Mulyani, according to the press release, accepted the appointment, saying: “It is a great honor for me and for my country to have this opportunity to contribute to the very important mission of the bank in changing the world".
The appointment follows an international search process. Mulyani, 47, will replace Juan Jose Daboub, who will complete his four-year term June 30, overseeing 74 nations in Latin America, the Caribbean, East Asia and the Pacific, the Middle East and North Africa, the bank said. Daboub is a former El Salvador finance minister.
Mulyani and Vice President Boediono have been the target of an opposition campaign accusing them of abusing their authority during the Rp 6.7 trillion ($740 million) bailout of Bank Century in 2008.